The Central Bank of Sri Lanka (CBSL) on Friday (14) said that it is “not in a position to consider favourably”' to the request to operate Russia’s MIR bank cards within the country’s banking system due to the US sanctions on the said payment system.
“Due to the US sanctions on the MIR payment system, as confirmed by the Sri Lankan Ministry of Foreign Affairs, the Central Bank of Sri Lanka is not in a position to consider favourably, at the current juncture, the request to operate MIR card scheme within the banking system,” the CBSL said in a tweet.
It was reported last month that Sri Lankan authorities are discussing with Moscow the possibility of joining Russian payment system MIR, and that the relevant discussions were underway between the Central Banks.
The importance of Mir cards for Russians rose substantially this year after US payments firms Visa Inc. and Mastercard Inc. suspended operations in Russia and their cards that were issued in Russia stopped working abroad, against the backdrop of Russia’s invasion and continuing war against Ukraine.
Cuba, South Korea, Turkey, Vietnam and a handful of former Soviet republics accept MIR, which means both “peace” and “world” in Russian, with others such as Iran intending to follow suit soon.
Sri Lanka declines request to join Russia’s MIR payment system
17 Oct 2022
Sri Lanka declines request to join Russia’s MIR payment system
17 Oct 2022